29 January 2021
QUARTERLY ACTIVITIES REPORT
PERIOD ENDED 31 DECEMBER 2020
Key activities during the quarter ended 31 December 2020 (“Quarter”) comprised:
• Vali field gas reserves independently certified in the Patchawarra reservoir- Gross 2P reserves of 33.2 PJ(8.3 PJ net working interest to Metgasco).
• The JV is considering drilling up-to 2 appraisal wells on Vali as well the Odin exploration well in a combined rig campaign which is anticipated to start in early Q2 CY2021.
• The pipeline engineering FEED study was completed in December 2020.
• The Vali field appraisal /development planning continued during the quarter including gas sales and third-party processing tariff discussions.
• The Vali-1 ST1 completion was unable to be pressure tested after two attempts due to technical problems .The completion is now planned for CY2021 subject to workover rig availability.
• Progressed environmental drilling approval applications to state government authorities(EPA and DMIRS) with feedback expected in February. Land access with other stakeholders progressed during the quarter.
• A letter of intent was signed with Refine Energy Ltd to utilise Rig-2 to drill Cervantes. Refine Energy are planning to drill two wells with Rig-2 in the L14 production licence prior to drilling Cervantes.
• Drilling now anticipated in Q2 CY2021 subject to government regulatory approvals and rig timing.
• At the AGM held on 14 December 2020, shareholders approved the in-specie distribution of up to 20 million shares in Byron Energy (ASX:BYE) held by the company. On 29 December Metgasco completed the distribution of the BYE shares.
Please click on the attached .PDF to view full report and the Quarterly Cashflow Report, Appendix 5B.
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